Law Commons^™

Contract Modification Under The Restatement (Second) Of Contracts, Robert A. Hillman

Cornell Law Faculty Publications

No abstract provided.

The Perfect Tender Rule - An "Acceptable" Interpretation, David Frisch

Law Faculty Publications

The focus of this article will be on the inherent conflict between the buyer's right to reject and the seller's right to cure. We will first review both the scholarly commentary addressing the issue and the judicial interpretations of the rejection-cure conflict. We will then propose a resolution to the conflict, or an acceptable interpretation, which serves to promote the expressed purposes and policies of the Uniform Commercial Code.

Constitutional Protection Of Commercial Speech, Jonathan Weinberg

Law Faculty Research Publications

No abstract provided.

Contract Law In Modern Commercial Transactions, An Artifact Of Twentieth Century Business Life?, James J. White

Articles

Diligent first year law students study contract law with a passion previously reserved for romantic objects and religious idols. Their professors lead them in extensive and difficult intellectual explorations of the wilds of contract law. There are careful analyses of why damage recovery X will stimulate performance Y, why recovery A is appropriate to encourage the aggrieved party to return to the market, and so on and so forth. Lurking behind this year long analysis are several inarticulate hypotheses: that they make rational evaluations of the threat of legal sanctions; that they respond in other varied and subtle ways to …

The Expansion Of Federal Legislative Authority, Terrance Sandalow

Book Chapters

During the 190 years since the Constitution's adoption, the legislative authority of the Congress has greatly expanded. In the beginning, Congress's powers were closely circumscribed, but over the years the boundaries by which they were initially confined have been almost entirely obliterated. Congress has ceased to be merely the legislative authority of a federal government; it has for all practical purposes acquired the legislative authority of a unitary nation. Especially in the economic sphere, it is only a small exaggeration to say that Congress now possesses plenary authority.

Of course, Congress need not-and, in fact, does not--exercise all the power …

Commercial Paper In Economic Theory And Legal History, Harold R. Weinberg

Law Faculty Scholarly Articles

Commercial-paper played a significant role in antebellum America by partially filling the void resulting from the shortage of gold and silver coinage and the absence of a reliable paper currency. Although most legal historians would agree with this premise, a controversy has arisen in recent years concerning negotiability, that collection of legal rules which greatly enhanced the usefulness of bills of exchange and promissory notes in commerce and finance.

Many scholars believe that negotiability, along with other pre-Civil War legal doctrines, was intended to facilitate the development of a national market system and economic growth. This view typically holds that …

Eight Cases And Section 251, James J. White

Articles

[A] continuing sense of reliance and security that the promised performance will be forthcoming. . . is an important feature of the bargain-so states Comment 1 to section 2-609 of the Uniform Commercial Code. At common law, one party to a contract might suffer considerable and justifiable anxiety about the other party's willingness or ability to perform and yet have no legal basis for cancelling the contract or for procuring additional assurances from the other party. Section 251 of the Restatement (Second) of Contracts is designed to provide a remedy for one party's reasonable fears that the other party to …